Healthcare · Biotechnology
Price
$1.26
Market Cap
$77.0M
Employees
143
Beta
1.04
Avg Volume
868,112
CEO
Gavin MacBeath
TScan Therapeutics, Inc., a clinical-stage biotechnology company, develops T cell receptor-engineered T cell (TCR-T) therapies for the treatment of patients with cancer in the United States. The company’s lead product is TSC-101, for the treatment of patients with acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), and acute lymphoblastic leukemia (ALL) in patients undergoing allogeneic hematopoietic cell transplantation (HCT), which is in Phase I clinical trial, as well as eliminates residual disease and promotes donor chimerism. It also develops TSC-102-A01 and TSC-102-A03, which are allogeneic and donor-derived TCR-T therapy candidates targeting epitopes. In addition, the company develops TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204 for the treatment of solid tumors. It has a research collaboration and license agreement with Amgen Inc. to identify antigens recognized by T cells in patients with Crohn’s disease. TScan Therapeutics, Inc. was incorporated in 2018 and is headquartered in Waltham, Massachusetts.
Runs with full report
Price Overview
Last updated: Jul 8, 2026 11:34pm (just now)
Current data · timestamped when a report runs
$1.26
Change · Jul 8
+0.19 (+17.76%)
Day Range
$1.03 – $1.28
52-Week Range
$0.83 – $2.57
50-Day MA
$1.05
200-Day MA
$1.22
Volume
2,585,185.00
Analyst Price Targets
Low
$3.00
Consensus
$7.50
High
$12.00
(2 analysts)
Share Structure
Outstanding
61,074,229.00
Float
55,390,045.00
Free Float
90.7%
High free float
— 90.7% of shares trade freely, ~9.3% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-1.26
Stock Price: $1.26
EPS (Diluted): -1.00
EPS (Diluted): -1.00
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.05
Stock Price: $1.26
Total Equity: $123.12M
Shares: 129,862,038
Total Equity: $123.12M
Shares: 129,862,038
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-0.35
Market Cap: $76.95M
Total Debt: $32.53M
Cash: $152.41M
EBITDA: -$124.13M
Total Debt: $32.53M
Cash: $152.41M
EBITDA: -$124.13M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$71.6M
Market Cap: $76.95M
Total Debt: $32.53M
Cash: $152.41M
Total Debt: $32.53M
Cash: $152.41M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
12.58
Stock Price: $1.26
Revenue: $10.33M
Shares: 129,862,038
Revenue: $10.33M
Shares: 129,862,038
EV/Sales (Total value vs revenue — works when P/E can't)
API6.93
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
72.2%
Gross Profit: $7.46M
Revenue: $10.33M
Revenue: $10.33M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-1,315.4%
Operating Income: -$135.81M
Revenue: $10.33M
Revenue: $10.33M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-1,256.8%
Net Income: -$129.77M
Revenue: $10.33M
Revenue: $10.33M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-91.9%
Net Income: -$129.77M
Total Equity: $123.12M
Total Equity: $123.12M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-67.9%
Operating Income: -$135.81M
Tax Rate: 0.0%
Equity: $123.12M
Total Debt: $32.53M
Cash: $152.41M
Tax Rate: 0.0%
Equity: $123.12M
Total Debt: $32.53M
Cash: $152.41M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
8.41
Current Assets: $157.21M
Current Liabilities: $18.70M
Current Liabilities: $18.70M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.26
Short-Term Debt: $0.00
Long-Term Debt: $32.53M
Total Debt: $32.53M
Total Equity: $123.12M
Long-Term Debt: $32.53M
Total Debt: $32.53M
Total Equity: $123.12M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.08
Revenue: $10.33M
Shares: 129,862,038
Shares: 129,862,038
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.95
Total Equity: $123.12M
Shares: 129,862,038
Shares: 129,862,038
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.08
Operating CF: -$135.32M
CapEx: -$4.41M
Shares: 129,862,038
CapEx: -$4.41M
Shares: 129,862,038
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.26
Stock Price: $1.26
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$129.77M
Net Income: -$129.77M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TCRX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 8, 2026 10:23pm (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10.1M | $13.5M | $21.0M | $2.8M | $10.3M |
| Cost of Revenue | $0 | $0 | $0 | $0 | $2.9M |
| Gross Profit | $10.1M | $13.5M | $21.0M | $2.8M | $7.5M |
| Operating Expenses | $58.8M | $80.2M | $114.5M | $137.6M | $143.3M |
| Operating Income | -$48.6M | -$66.6M | -$93.5M | -$134.8M | -$135.8M |
| Net Income | -$48.6M | -$66.2M | -$89.2M | -$127.5M | -$129.8M |
| EBITDA | -$45.3M | -$59.9M | -$80.1M | -$119.7M | -$124.1M |
| EPS | $-2.03 | $-2.74 | $-1.36 | $-1.14 | $-1.00 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 8, 2026 10:23pm (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $161.4M | $120.0M | $133.4M | $178.7M | $152.4M |
| Total Current Assets | $165.7M | $124.1M | $194.2M | $292.7M | $157.2M |
| Total Assets | $188.1M | $199.1M | $272.1M | $371.1M | $228.8M |
| Current Liabilities | $21.3M | $17.3M | $29.8M | $36.0M | $18.7M |
| Long-Term Debt | $0 | $29.3M | $26.7M | $32.1M | $32.5M |
| Total Liabilities | $27.3M | $99.7M | $121.3M | $130.1M | $105.7M |
| Total Equity | $160.8M | $99.4M | $150.9M | $241.0M | $123.1M |
| Retained Earnings | -$92.2M | -$158.4M | -$247.6M | -$375.1M | -$504.9M |
Cash Flow (Annual)
Last updated: Jul 8, 2026 10:23pm (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$48.7M | -$66.5M | -$61.4M | -$110.8M | -$135.3M |
| Capital Expenditure | -$9.9M | -$4.2M | -$3.1M | -$3.8M | -$4.4M |
| Free Cash Flow | -$58.6M | -$70.7M | -$64.5M | -$114.6M | -$139.7M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $131.1M | -$41.4M | $13.3M | $45.3M | -$26.3M |
Analyst Estimates (Annual)
Last updated: Jul 8, 2026 10:23pm (1h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$7.8M $6.7M – $8.9M
|
$26.3M $11.5M – $35.7M
|
$49.1M $21.4M – $66.6M
|
$86.5M $37.7M – $117.4M
|
| EBITDA |
-$7.8M -$8.9M – -$6.7M
|
-$26.3M -$35.7M – -$11.5M
|
-$49.1M -$66.6M – -$21.4M
|
-$86.5M -$117.4M – -$37.7M
|
| Net Income |
-$124.8M -$144.7M – -$110.4M
|
-$127.3M -$136.3M – -$93.9M
|
-$85.7M -$125.6M – -$22.9M
|
-$52.4M -$76.7M – -$14.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 8, 2026 10:23pm (1h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +33.5% | +55.5% | -86.6% | +266.7% |
| Gross Profit Growth | +33.5% | +55.5% | -86.6% | +164.9% |
| Operating Income Growth | -37.0% | -40.3% | -44.3% | -0.7% |
| Net Income Growth | -36.2% | -34.7% | -42.9% | -1.8% |
| EBITDA Growth | -32.3% | -33.7% | -49.5% | -3.7% |
Insider Trading (Recent)
Last updated: Jul 8, 2026 10:23pm (1h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-20 | BAKER BROS. ADVISORS LP | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-05-20 | Woods Keith | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-05-20 | Nicholson Garry A | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-05-20 | Gruia Gabriela | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-05-20 | Dorton Katina | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-05-20 | Klencke Barbara | A-Award | 67,000.00 | $0.99 | $66,638 |
| 2026-01-20 | Amello Jason | A-Award | 350,000.00 | $1.12 | $392,000 |
| 2026-01-20 | MacBeath Gavin | A-Award | 1,165,000.00 | $1.12 | $1.3M |
| 2026-01-20 | Dworak Leiden | A-Award | 100,000.00 | $1.12 | $112,000 |
| 2026-01-20 | Louis Chrystal | A-Award | 420,000.00 | $1.12 | $470,400 |
| 2026-01-20 | ZDRAVESKI ZORAN | A-Award | 350,000.00 | $1.12 | $392,000 |
| 2025-12-23 | Lynx1 Capital Management LP | P-Purchase | 6,232.00 | $0.90 | $5,602 |
| 2025-12-22 | Lynx1 Capital Management LP | P-Purchase | 75,500.00 | $0.90 | $67,950 |
| 2025-12-19 | Lynx1 Capital Management LP | P-Purchase | 80,069.00 | $0.90 | $71,974 |
| 2025-08-14 | Dworak Leiden | 70,000.00 | $3.07 | $214,550 | |
| 2025-08-14 | Dworak Leiden | 46,875.00 | $6.00 | $281,250 | |
| 2025-08-14 | Dworak Leiden | 25,000.00 | $2.23 | $55,750 | |
| 2025-08-14 | Dworak Leiden | 163,800.00 | $2.49 | $407,862 | |
| 2025-08-14 | Dworak Leiden | 23,750.00 | $1.81 | $42,988 | |
| 2025-08-14 | Dworak Leiden | 37,500.00 | $2.90 | $108,750 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for TCRX — it's generated by the pipeline (
market-narrative step).
No community reviews yet for TCRX.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.393 · 6a8d9cc1 · 2026-07-08 21:32:56